Stifel analyst Mark Kelley raised the firm’s price target on Snap (SNAP) to $7 from $6.50 and keeps a Sell rating on the shares. The company’s Q3 results came in ahead of expectations, though not for North America, and delivered a Q4 guide above consensus, the analyst tells investors in a research note. The firm added that the Perplexity deal is a “nice announcement,” thought it maintains its concerns about a declining North America DAU base, paired with ads growth that remains below the market.
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